- Controller buttons caused CPU interrupts, so basically 0 latency
- No OS getting in the way
- N64 era would be double buffered and then straight to the CRT
- NES era would literally calculate the pixels in real time as the CRT beam moved across the screen
- CRTs have virtually no latency, same with the analog signal chain because there is no buffering
So when people try to play them in modern systems, things that were easy back then are quite hard now.
There's a reason anybody speedrunning SM64 will play on a CRT.
I bought a Japanese copy of Super Mario World on ebay (Japanese copies of games were peanuts at the time, I assume they're more now), and found an old CRT for cheap on a local used site. I continued to play SMW many times over the years on various platforms and emulators, and I'm pretty damn good at the game.
But man, did it blow my mind feeling as little input latency as I did the first time I booted it on a CRT after all those years. It actually took a little bit of time to adapt to. It's like that phenomenon where if a button activates a light with low enough latency, people think the light is predicting when they'll hit the button, i.e. turning on before the button is pressed. People don't realize the latency we started dealing with when everything went from analogue to digital!
Relevant: https://en.wikipedia.org/wiki/Raster_interrupt#Nintendo_Ente...
My previous TV had about 150 ms of video latency. Even if I enabled Game Mode, it was 75 ms, which was still noticeable.
With my current TV, I have no idea what the latency is because I stopped gaming on console and so I'm not playing Rock Band which had a calibration option to compensate for video and audio latency.
If you don't configure your TV correctly sure, you could get massive amounts of lag. Even with an OLED display if you turn on all the post processing you're going to have problems. That's not really a fault of the TV though. I disable almost all post processing on my TVs and get a better picture without the downsides.
With digital receivers adding lag is minimal at best. Especially with newer models that don't draw on top of the source signal.
For example, my LG OLED tv is regarded as one of the best for gaming. Game mode latency is about 9ms. Cinema mode is about 90ms.